A. insurable interest
B. utmost good faith
C. indemnity
D. contribution
Correct Answer: Option C
C. indemnity
Explanation
An indemnity is a comprehensive form of insurance compensation for damages or loss and, in the legal sense, it may also refer to an exemption from liability for damages. Indemnity is considered to be a contractual agreement between two parties whereby one party agrees to compensate for the loss that occurred to the other party (indemnity holder) due to the act of the Indemnitor or any other party.
Do you want to study Agricultural Extension in OOU? Before you apply for the OOU…
Do you want to study Agricultural Economics in OOU? Before you apply for the OOU…
Do you want to study Cooperative and Business Management in OOU? Before you apply for…
Do you want to study Home and Hotel Management in OOU? Before you apply for…
Do you want to study Animal Production in OOU? Before you apply for the OOU…
Do you want to study Crop Production in OOU? Before you apply for the OOU…